Following a successful round of the state initiative to facilitate investments in renewable energy (RE), the Philippine government is planning to conduct another Green Energy Auction (GEA) in 2025.
Speaking at a public briefing Wednesday, Energy Secretary Raphael Lotilla said, “Ang preparation ng ating government ay magkaroon ng green energy auction for solar and renewable [energy] during this year. So ang expectation, mataas ang level ng interest sa mga solar companies.”
(Our government is preparing for a green energy auction for solar and renewable [energy] this year. So our expectation is that the interest level of solar companies will be high.)
Lotilla also noted that more Filipinos are installing solar panels on their roofs, with the same trend observed at government offices.
Last week, the DOE announced that the third Green Energy Auction (GEA-3) secured a total of 7,500 megawatts (MW) of committed renewable energy (RE) installation capacity, exceeding the target of 4,650 MW.
According to the Energy Department, the GEA-3 is part of the government’s strategy to entice market-driven investments to achieve the target of 35% renewable share in the power generation mix by 2030 and 50% by 2040.
The program seeks to ensure competitive selection of firms to obtain rights to develop renewable energy capacity. — VDV, GMA Integrated News
